Rumor: Instagram Could Add Video This Week to Compete with Twitter's Vine

First, TechCrunch claimed Facebook's June 20 event would unveil a news reader, and now the website has an insider tip that the social network may go head-to-head with Vine by introducing video to Instagram instead.

TechCrunch reported Monday that this week's Facebook event may not be about a news reader at all, but something potentially more relevant to its user base: Vine-style videos via Instagram.

Vine is Twitter's wildly popular app for making and sharing short videos, which recently made its debut on Android after racking up millions of users on the iPhone and iPod touch. According to sources, Instagram's take on the feature could make such videos a little more flexible by allowing them to be between five and 10 seconds long, rather than Vine's more strict six seconds.

It's unknown whether Facebook will integrate such a service into the existing Instagram app or offer a completely separate one, and TechCrunch sources were also uncertain whether Instagram's popular filters would be included, although such a move would certainly make sense.

Facebook's mysterious "big idea" event will be held this Thursday, June 20, so we won't have to wait long to find out what it is.